Trading

Trading- "It’s much easier to learn what you should do in trading than to do it. "

Trading provides one of the last great frontiers of opportunity in our economy. It is one of the very few ways in which an individual can start with a relatively small bankroll and actually become a multimillionaire.

Jack D Schwager

The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.

Victor Sperandeo

It’s much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies.

William Eckhardt

I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell.

Tom Basso

Maximize the good, minimize the bad, and continually forgive yourself.

Don Miller

Losing money is the least of my troubles. A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocketbook and to the soul.

Jesse Livermore

If I have positions going against me, I get right out; if they are going for me, I keep them… Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.

Paul Tudor Jones

Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.

Larry Hite

Throughout all my years of investing I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting.

Jesse Livermore

Some people say, ”I can´t sell that stock because I´d be taking a loss.” If the stock is below the price you paid for it, selling doesn´t give you a loss; you already have it.

William O´Neill

If you can’t change or control what the market is doing, then the only option you have left is to control yourself in a way that allows you to perceive what the market may do next with increased clarity and objectivity, requiring a thorough working knowledge of the nature of your inner environment in relationship to the outer physical environment.

Mark Douglas

Losing is part of trading. The best traders don’t get perturbed by losing trades, since over the long run they know they will be successful more often than not. When you
are afraid of losing, you end up losing or missing opportunities because you are afraid to trade.

Ari Kiev

Successful trading isn’t about predicting what happens next, it’s about taking the right kinds of risk with your capital.
That becomes far easier when you stay objective with the price action you’re seeing on your preferred timeframe.

Jeff White

In this game, the market has to keep pitching, but you don’t have to swing. You can stand there with the bat on your shoulder until you get a fat pitch.

Warren Buffet

By failing to prepare, you are preparing to fail!

John Wooden

Don’t focus on making money; focus on protecting what you have.

Paul Tudor Jones

The markets are noisy, messy places. The mathematical tools that work best in this environment are simple and robust. You do not need fancy, higher math for most trading applications; you need simple, basic math, but you must understand your tools completely.

Adam Grimes

Trading is the most exciting activity that a person can do with their clothes on. Trouble is, you cannot feel excited and make money at the same time.

Alexander Elder

We are a research organization… We hire people to make mathematical models of the markets in which we invest… We look for people capable of doing good science, on the research side, or they are excellent computer scientists in architecting good programs.

James Simons

Everything’s tested in historical markets. The past is a pretty good predictor of the future. It’s not perfect. But human beings drive markets, and human beings don’t change their stripes overnight. So to the extent that one can understand the past, there’s a good likelihood you’ll have some insight into the future.

James Simons

We are in the business of making mistakes. The only difference between the winners and the losers is that winners make small mistakes, while losers make big mistakes.

Ned Davis

I learned to be especially wary about data mining – to not go looking for what would have worked in the past, which will lead me to have an incorrect perspective. Having a sound fundamental basis for making a trade, and an excellent perspective concerning what to expect from that trade, are the building blocks that have to be combined into a strategy.

Ray Dalio

Most aspiring traders underestimate the time, work, and money required to become successful. To succeed as a trader, one needs complete commitment. Just as in any entrepreneurial venture, you must have a solid business plan, adequate financing, and a willingness to work long hours. Those seeking shortcuts are doomed to failure. And even if you do everything right, you should still expect to, lose money during the first five years – losses that I view as tuition payments to be made to the school of trading. These are cold, hard facts that many would-be traders prefer not to hear or believe, but ignoring them doesn’t change the reality.

Mark D Cook

The best traders I know are really quite brilliant, and they all work very hard – much harder than anyone else. By the way, when I talk about working hard, I mean commitment and focus: it has nothing to do with how many hours you spend in the office. These traders have tremendous commitment to the markets – to their craft so to speak. They develop scenarios, reevaluate scenarios, collect information and reevaluate that information.

Bill Lippshutz

To be a successful trader, you have to be able to admit mistakes. People who are very bright don’t make very many mistakes. In a sense, they generally are correct. In trading, however, the person who can easily admit to being wrong is the one who walks away a winner. Besides trading, there is probably no other profession where you have to admit you’re wrong. In trading, you can’t hide your failures. Your equity provides a daily reflection of your performance. The trader who tries to blame his losses on external events will never learn from his mistakes. For a trader, rationalization is a guaranteed road to ultimate failure.

Victor Sperandeo

People often say, ‘It’s not cheap, but I think it’ll keep going up because of excess liquidity (or any number of other reasons). In other words, they say, ‘It’s fully priced, but I think it’ll become more so.’ Buying or holding on that basis is extremely chancy, but that’s what makes bubbles. In bubbles, infatuation with market momentum takes over from any notion of value and fair price, and greed (plus the pain of standing by as others make seemingly easy money) neutralizes any prudence that might otherwise hold sway.

The path to success is to take massive, determined action. Anthony Robbins Most people have no idea of the giant capacity we can immediately command when we focus all of our resources on mastering a single area of our lives. Anthony Robbins I believe life is constantly testing us for our level of commitment, and […]

The few who do are the envy of the many who only watch. Jim Rohn Work harder on yourself than you do on your job. Jim Rohn Commit yourself to something bigger than yourself. Jim Rohn If you go to work on your goals, your goals will go to work on you. If you go […]

The man who succeeds above his fellow man is the one who early in life clearly discerns his objective, and toward that objective he directs all of his powers. Vince Lombardi The difference between a successful man and others is not a lack of strength, not a lack of knowledge, but rather a lack of […]

I fear not the man who has practiced 10 000 kicks once, but I fear the man who has practiced one kick 10,000 times. Bruce Lee If you love life, don’t waste time, for time is what life is made up of. Bruce Lee Ever since I was a child I have had this […]

You were born to win, but to be a winner you must plan to win, prepare to win, and expect to win. Zig Ziglar What you get by achieving your goals is not as important as what you become by achieving your goals Zig Ziglar When you are tough on yourself, life is going to […]

The world has the habit of making room for the man whose actions show that he knows where he is going. Napoleon Hill There is one quality which one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it. Napoleon Hill […]

I hated every minute of training, but I said, “Don’t quit. Suffer now and live the rest of your life as a champion.” Mohammed Ali It’s the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen. Mohammed Ali It’s lack of faith that makes […]

Are you bored with life? Then throw yourself into some work you believe in with all your heart, live for it, die for it, and you will find happiness that you thought could never be yours. Dale Carnegie Act enthusiastic and you will be enthusiastic. Dale Carnegie If you believe in what you are doing, […]

Cut your losses short, and let your profits run…

What is good for our customers is also, in the long run, good for us. Ingvar Kamprad Don´t ever make an oral agreement, or trust a handshake. Always put everything down in writing. If you don´t follow this rule even the best lawyers in the world can´t help you. Ingvar Kamprad Once you start to […]

As long as your going to be thinking anyway, think big. Donald Trump What I admire most are people who put themselves directly on the line. Donald Trump You can’t be scared. You do your thing, you hold your ground, you stand up tall, and whatever happens, happens. Donald Trump Get in, get it done, […]

Commit to your business. Believe in it more than anybody else. Sam Walton Ignore the conventional wisdom. If everybody else is doing it one way, there’s a good chance you can find your niche by going in exactly the opposite direction. Sam Walton Capital isn’t scarce; vision is. Sam Walton I think I overcame every […]

Early to bed, early to rise, work like hell and advertise. Ted Turner You should set goals beyond your reach so you always have something to live for. Ted Turner If you’ve got an innovative idea, and the majority does not poohpooh it, then the odds are you must not have a very good idea. […]

Entrepreneurs are never satisfied. They want to do things better. They strive for perfection and use all the ingenuity to their command to achieve it. J Willard Marriot Success seems to be connected to action. Successful people keep moving. They make mistakes, but they never quit. J Willard Marriot Only close attention to the fine […]

There are one hundred men seeking security to one able man who is willing to risk his fortune. J Paul Getty Formula for success: rise early, work hard, strike oil. J Paul Getty In times of rapid change, experience could be your worst enemy. J Paul Getty The meek shall inherit the earth, but not […]

I do not believe in excuses. I believe in hard work as the prime solvent of life’s problems. J C Penney Every man must decide for himself whether he shall master his world or be mastered by it. J C Penney Unless you are willing to drench yourself in your work beyond the capacity of […]

Raise your sights! Blaze new trails!! Compete with the immortals!!! David Ogilvy The pursuit of excellence is less profitable than the pursuit of bigness but it can be more satisfying. David Ogilvy Don’t bunt. Aim out of the ball park. Aim for the company of immortals. David Ogilvy I believe in the Scottish proverb: “Hard […]

Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. Ray Kroc If you work just for money, you’ll never make it, but if you […]

I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature. John D Rockefeller Singleness of purpose is one of the chief essentials for success in life, no matter what may be one´s aim. John D Rockefeller The […]

Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary. Steve Jobs Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And […]

Think of yourself as a threshold of unparalleled success. A whole, clear, glorious life lies before you. Achieve! Achieve! Andrew Carnegie Immense power is acquired by assuring yourself in your secret reveries that you were born to control affairs. Andrew Carnegie I believe that the true road to preeminent success in any line is to […]

Margareth Thatcher Quotes

I do not know anyone who has got to the top without hard work. That is the recipe. It will not always get you to the top, but should get you pretty near. Margaret Thatcher Plan your work for today
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Winston Churchill quotes…

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. Winston Churchill Attitude is a little thing that makes a big difference. Winston Churchill Continuous effort – not strength or intelligence – is the
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Benjamin Franklin quotes…

To succeed, jump as quickly at opportunities as you do at conclusions. Benjamin Franklin Energy and persistence conquer all things. Benjamin Franklin If a man empties his purse into his head, no man can take it away from him. An
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Sun Tzu quotes…

For to win one hundred victories in one hundred battles is not the acme of skill. To subdue the enemy without fighting is the acme of skill. Sun Tzu Invincibility lies in the defence; the possibility of victory in the
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Trading Room War Stories…

Anybody who ever set foot inside of a trading room can tell you about the intense atmosphere. The pulse, the war stories and the brash words are all part of the game. We have collected some of the funniest
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